Info Edge rises as its arm to invest Rs 3 crore in Sploot
Info Edge (India) is currently trading at Rs. 8806.10, up by 115.75 points or 1.33% from its previous closing of Rs. 8690.35 on the BSE.
The scrip opened at Rs. 8711.40 and has touched a high and low of Rs. 8895.00 and Rs. 8711.40 respectively. So far 258 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 8943.25 on 17-Dec-2024 and a 52 week low of Rs. 4868.50 on 24-Jan-2024.
Last one week high and low of the scrip stood at Rs. 8943.25 and Rs. 8616.50 respectively. The current market cap of the company is Rs. 114324.94 crore.
The promoters holding in the company stood at 37.68%, while Institutions and Non-Institutions held 51.83% and 10.48% respectively.
Info Edge’s (India) wholly-owned subsidiary -- Redstart Labs (India) has planned to invest an amount of about Rs 3 crore in Sploot and consequently the company’s aggregate shareholding through Redstart would increase from 21.96% to 26.40% on a fully converted and diluted basis upon completion of the acquisition of shares. This follow on investment by the company through Redstart is in furtherance of company’s investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term. The said acquisition is expected to be completed within 30 days from the approval of Board of Directors of Redstart.
Info Edge (India) owns one of the leading job portals naukri.com. The company is a leading provider of various portals related to online recruitment, matrimonial, real estate and education classifieds and related services in India.